Accounting Cheat Sheet

(1) Consolidated Statement of Income
Operating Revenues
Revenue from services
Sales revenue
Less: Credit Card Discount
Less: Sales Discount
Less: Sales Returns & Allowances
Total revenues
Operating Expenses
Cost of goods sold
Salaries expense
Rent expense
Advertising expense
General and administrative expenses
Depreciation expense
Other operating expenses
Total expenses
Operating Income
Other Items
Investment income
Interest expense
Loss on PPE sold
Income before Income Taxes
Income tax expense
Net Income
Earnings per Share

(2) Consolidated Statement of SE

Contributed Capital
Retained Earnings
Total SE
Beginning, date
$0
$0
$0
Additional contributions
X

X
Net Income

Y
Y
Dividends declared

(Z)
(Z)
Ending, date
X

Allowance for Doubtful Accounts | Beginning balance Write-offs | Bad debt expense | Ending balance

Accounts Receivable Beginning balance | Write-offs Net Sales | Cash collections Ending balance |

(3) Consolidated Balance Sheet
ASSETS
Current Assets
Cash and cash equivalents
Short-term investments
Inventories
Supplies
Accounts receivable
Less: Allowance for doubtful account
Short-term notes receivable
Prepaid expenses
Total current assets
Properties, plants & equipment
Less: Accumulated depreciation
Goodwill
Long-term investments
Long-term notes receivable
Intangibles
Non-current deferred income taxes
Total assets

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable
Dividends payable
Accrued expenses payable
Unearned revenue
Short-term notes payable
Total current liabilities
Non-current liabilities
Deferred lease credits
Deferred taxes
Non-current accrued income taxes
Long-term notes payable
Total non-current liabilities
Total liabilities
Shareholders’ equity
Contributed capital
Preferred stock
Common stock
Treasury stock
Retained earnings
Total